Low-wage workers have lost the most ground during COVID

Marketplace’s Erika Beras reports.

In his annual letter to shareholders, the JPMorgan Chase CEO and chairman said the U.S. could be in store for an economic boom through 2023 if more adults get vaccinated and federal spending continues. “Comments like that imply that he thinks we’re moving to an almost perfect setup for the economy with slow, steady growth and a nice solid recovery,” said Susan Schmidt, head of U.S. equities at Aviva Investors. That kind of growth would lead to slow and steady interest rate increases, Schmidt said, which “is a great operating environment for companies, and it’s a time when the market tends to do well.” Schmidt said she thinks Dimon is optimistic, but he’s also looking at what the federal government has done with fiscal relief, and how confident consumers are recently.